Search form

Search form

Harold Evensky, co-author of "The New Wealth Management," discusses the latest edition of his book and offers some advice for how advisers and clients can adjust to changes in the investment landscape. Clients' portfolios should be designed for lower returns on average than in previous decades, Evensky said. He also said investors should also take a second look at the benefits offered by fixed-immediate annuities and longevity insurance. As for advisers, it's as important as ever to act as fiduciaries, Evensky said.

Financial advisers can play a role in helping clients cope with identity theft. Victims should act quickly to lock down their accounts and take action to recover lost funds, advisers say. Experts recommend that individuals take steps to reduce their risk of identity theft, including shredding documents and monitoring their credit reports regularly. Advisers who e-mail their clients should also watch out for data breaches.

It's important for clients to make a decision about who will take care of their children if something should happen to them, Patricia Annino writes. She offers a number of factors to consider, including whether the guardian should be a single person or a couple, as well as their lifestyle, availability and personal values. Remember that clients can also name successor guardians or select a new guardian if their family's circumstances change, Annino wrote.

Democratic leaders didn't succeed in raising revenue as part of the tentative debt-ceiling deal, but measures that would bring in new tax dollars could re-emerge later this year as a special committee works to cut the deficit further.

Financial planners are taking exception with a proposed custody rule by the Securities and Exchange Commission, according to this article. "Defining RIAs who only have authority to bill a client's account for quarterly fees as 'having custody' is not only silly, it will add unnecessary costs for investors without adding any additional consumer protection," wrote Harold Evensky, president and principal of Evensky & Katz, in a comment letter regarding the proposal. The proposed rule also calls for annual audits.